Park Ridge, Bergen County, New Jersey Property Taxes
Median Park Ridge, NJ effective property tax rate: 3.09%, significantly higher than the national median of 1.02%, but lower than the NJ state median of 2.82%.
Median Park Ridge, NJ home value: $439,250
Median annual Park Ridge, NJ tax bill: $13,561, $11,161 higher than the national median property tax bill of $2,400.
How are property taxes in Bergen calculated?
Property taxes in Park Ridge, NJ are calculated based on the tax assessed value, which is often lower than the actual market value due to property tax exemptions such as the homestead or senior exemption.
Understanding Park Ridge’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Park Ridge, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Park Ridge, Bergen County, New Jersey Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
3.09%
Estimate Property Tax Bill
$13,573
$12,595
Property Tax Rates Across Park Ridge, Bergen County, New Jersey
Local government entities set tax rates, which can vary widely within a state. Each county estimates its required budget to provide services and divides that by the total value of all taxable property within its jurisdiction. This calculation results in the property tax rate. While there are votes and laws involved in setting tax rates and budgets, in a nutshell, this is the annual process.
Park Ridge in Bergen County, NJ, has a notably high effective property tax rate of 3.09%, which stands out not only within the state but also on a national scale. Compared to the national median property tax rate of 1.02%, Park Ridge's rate is significantly higher. This can result in a substantial property tax bill for homeowners, especially when compared to the national median property tax bill of $2400. Such differences highlight the importance of understanding local property tax dynamics and considering property tax appeal and exemption services.
Below, you can compare Park Ridge’s effective property tax rate to other cities in New Jersey and the median property tax rates in New Jersey and the U.S.
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Park Ridge Tax Rate
3.09%
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Bergen County Tax Rate
2.73%
Median Effective New Jersey Tax Rate
2.82%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Park Ridge, Bergen County, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 07656 | 3.09% | 3.09% | 3.09% | 3.09% | 3.09% |
Source: Ownwell
Property Tax Assessment Values Across Park Ridge, Bergen County, New Jersey
When examining property taxes in Park Ridge, NJ, understanding the distinction between "market value" and "assessed value" is crucial. The market value is what a willing buyer would pay to a willing seller in an open and competitive market, often influenced by location, property condition, and economic market trends. The Bergen County appraisal district estimates the market value for tax purposes. The assessed value is the market value minus any applicable exemptions or limits determined by local laws and offerings. The tax assessed value is the figure used to calculate your property taxes or the amount multiplied by your tax rate to get your tax bill.
Assessment notices: In Bergen County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of April. Each property owner receives an assessment notice that contains both the market value and assessed value, along with an estimate of your property tax bill. By providing insights into how assessed and market values are determined, this section helps property owners navigate their tax responsibilities and understand the valuation processes affecting their property taxes in Park Ridge.
For example, the median home price in Park Ridge is $439,250, with tax bills ranging significantly across the county. Zip code 07656 has the highest median home price at $439,250.
Property Tax Assessment Values Across Park Ridge, Bergen County, New Jersey
Source: Ownwell
$256,600
$1,236,600
$2,216,600
Median Park Ridge Market Value
$439,250
Median Bergen County Market Value
$421,800
Median New Jersey Market Value
$282,900
Median United States Market Value
$235,294
Property Tax Assessment Values Across Park Ridge, Bergen County, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 07656 | $306,700 | $372,800 | $439,250 | $542,200 | $715,000 |
Source: Ownwell
Property Tax Bills Across Park Ridge, Bergen County, New Jersey
In Park Ridge, NJ, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is a percentage of the property's market value, which is determined by local tax assessors. With a median home price of $439,250, homeowners in Park Ridge face a significant property tax burden. The median tax bill in Bergen County is $13,561, considerably higher than the national median of $2,400. Factors influencing the tax bill include property size, location, and any improvements made to the home. High property taxes can place a financial burden on homeowners, impacting their overall housing affordability.
Ownwell assists homeowners by providing property tax appeal and exemption services, potentially lowering their tax bills. By analyzing the assessed value and comparing it to similar properties, Ownwell identifies discrepancies and advocates for fair assessments. This can result in substantial savings, easing the financial strain on homeowners and ensuring they pay only their fair share in property taxes.
Median Park Ridge Tax Bill
$13,561
Median Bergen County Tax Bill
$11,253
Median New Jersey Tax Bill
$8,227
Median United States Tax Bill
$2,400
Property Tax Bills Across Park Ridge, Bergen County, New Jersey
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 07656 | $9,455 | $11,516 | $13,561 | $16,749 | $22,083 |
Source: Ownwell